Quarterly median house prices for metropolitan Adelaide by suburb

In the June quarter of 2024, the average residential property price in South Australia exceeded 800 thousand Australian dollars. This marked the highest quarterly mean dwelling price in South Australia during the reported period.

Housing Affordability Index: South Australia: Adelaide data was reported at 126.200 Index in Jun 2010. This records a decrease from the previous number of 138.200 Index for Mar 2010. Housing Affordability Index: South Australia: Adelaide data is updated quarterly, averaging 182.084 Index from Sep 1984 (Median) to Jun 2010, with 104 observations. The data reached an all-time high of 308.743 Index in Sep 1997 and a record low of 113.400 Index in Jun 2008. Housing Affordability Index: South Australia: Adelaide data remains active status in CEIC and is reported by Housing Industry Association. The data is categorized under Global Database’s Australia – Table AU.EB015: Housing Affordability Index: Based on Commonwealth Bank of Australia Home Price (Discontinued). Rebased Index. Replacement series ID: 305195901

In 2022, the capital city suburb with the strongest 12 month growth in housing values was Davoren Park, South Australia, with an annual growth in median property value of 34.7 percent. Elizabeth Grove, another South Australian suburb, also witnessed a large growth in property values with an annual change of 33.3 percent recorded that same year.

Gray in Greater Darwin, Northern Territory was the most affordable capital city housing suburb in Australia in 2023, with a median property value of around 359 thousand Australian dollars. The Elizabeth North suburb in Greater Adelaide, South Australia was the second-most affordable capital city housing suburb.

Quarterly summary of median private rent in South Australia by: suburb, postcode, State Government regions and Local Government Areas. The information relates to bonds lodged with Consumer and Business Services for private rental properties in South Australia.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2023. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 117.5 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

In 2024, one square meter of greenfield land cost an average of 751 Australian dollars in Adelaide, Australia. This marked an increase in green land cost per square meter compared to the previous year.

A survey conducted among Australian adults in November 2024 reported that residents in Western Australia had the greatest average length of home ownership at 11 years.

As of September 2024, the average rental yield of houses in Sydney, New South Wales, was 2.98 percent. In Darwin, the rental yield for houses measured 6.27 percent, which was the highest across all Australian capital cities during that quarter.

In 2024, one square meter of greenfield land cost an average of 992 Australian dollars in South East Queensland, Australia. This was the highest price recorded in the past decade for that region.

The rent price index in Australia in the fourth quarter of 2024 was 120.7, marking an increase from the same quarter of the previous year. Rent prices had decreased in 2020; in Melbourne and Sydney, this was mainly attributed to the absence of international students during the coronavirus outbreak. The current state of the rental market in Australia The rental market in Australia has been marked by varying conditions across different regions. Among the capital cities, Sydney and Melbourne have long been recognized for having some of the highest average rents. As of September 2024, the average weekly rent for a house in Sydney was 775 Australian dollars, which was the highest average rent across all major cities in Australia that year. Furthermore, due to factors like population growth and housing demand, regional areas have also seen noticeable increases in rental prices. For instance, households in the non-metropolitan area of New South Wales’s expenditure on rent was around 30 percent of their household income in the year ending June 2024. Housing affordability in Australia Housing affordability remains a significant challenge in Australia, contributing to a trend where many individuals and families rent for prolonged periods. The underlying cause of this issue is the ongoing disparity between household wages and housing costs, especially in large cities. While renting offers several advantages, it is worth noting that the associated costs may not always align with the expectation of affordability. Approximately one-third of participants in a survey conducted in 2023 stated that they pay between 16 and 30 percent of their monthly income on rent. Recent government initiatives such as the 2024 Help to Buy scheme aim to make it easier for people across Australia to get onto the property ladder. Still, the multifaceted nature of Australia’s housing affordability problem requires continued efforts to strike a balance between market dynamics and the need for accessible housing options for Australians.

In the June quarter of 2024, the average residential property price in New South Wales exceeded 1.22 million Australian dollars. Of all Australian states and territories, the mean price of residential dwellings was the highest in New South Wales.

The central business district in New South Wales had the highest average net face rent for prime office property in Australia in the third quarter of 2024, with an average rent of 1,224 Australian dollars per square meter. In comparison, Victoria's CBD had an average net face rent of 727 Australian dollars per square meter of office property.

In the third quarter of 2024, the average net face rent of industrial property in New South Wales was around 252 Australian dollars per square meter. In comparison, the average net face rent of industrial property in Victoria was around 148 Australian dollars per square meter.

In the central business district of Adelaide, the highest net face rent for premium office property was 550 Australian dollars per square meter and the lowest was 430 Australian dollars per square meter. The net face rent for a B grade office property ranged from 285 to 355 Australian dollars per square meter.

In the third quarter of 2024, the average net face rent of super prime CBD retail real estate in New South Wales, Australia was 10,944 Australian dollars per square meter. In Western Australia, the average net face rent of super prime CBD retail properties was 2,830 Australian dollars per square meter.

In the second quarter of 2021, South Sydney had the most expensive net face rent of industrial property in Australia with a net face rent of 213 Australian dollars per square meter. The second highest net face rent was in Central West Sydney with a net face rent of 163 Australian dollars per square meter.

South Sydney had the highest average land value of industrial property with a value of 3,250 Australian dollars per square meter in Australia. City Fringe Melbourne had the second highest average land value of industrial property with a value of 1,750 Australian dollars per square meter.

New Zealand's average farm sale prices showed significant regional variations in the three months to November 2024. The price of farm property in the country was the highest in the Nelson/Marlborough/Tasman region as of November 2024, with an average sale price of around 148,180 New Zealand dollars per hectare. In comparison, in the Auckland region, the average farm sales price came to just over 61,000 dollars per hectare. A farming nation The agriculture industry is a major economic pillar of the country. The contribution to the nation’s GDP is valued in the billions of New Zealand dollars. Horticulture, livestock, and dairying are all important segments, and the commodities produced within them are exported across the globe. While sheep livestock numbers have declined, they still make up a large share of the country’s livestock population. Horticultural farming While New Zealand exports various horticultural products, including wine grapes, potatoes, and apples, it is perhaps best known for its kiwi fruit. Accordingly, the land area dedicated to kiwi fruit farming has continued to increase over the years. New Zealand’s leading horticultural product export destinations include Asia, Europe, and Australia.